Tesla Burns Through CA EV Rebates in 5 Days

California's new MyFirstEV program, designed to incentivize first-time electric vehicle buyers, saw Tesla vehicles utilize their entire rebate allocation within just five days of the program's rollout. This occurred despite a national decline in EV demand, with U.S. EV sales dropping nearly 28% in June compared to the previous year. The state initiative, launched in response to the expiration of federal EV subsidies, offers significant savings, with qualifying new EVs receiving a $3,500 rebate and used ones $1,750. California committed $135.5 million to the program, with automakers matching this contribution for a total of approximately $271 million in incentives. Tesla's rapid uptake, particularly notable as it does not qualify for certain price cap exemptions that benefit other California-based EV manufacturers, underscores its continued popularity in the state. In the second quarter, Tesla registered over 45,000 vehicles in California, representing nearly 57% of all zero-emission vehicles sold in the state through June. This strong performance in California contrasts sharply with national trends, where EVs accounted for only 5.4% of all new-vehicle sales in June.